LAST AUTO NEWS – REPORT: CHINESE AUTOMAKER TO PURCHASE VOLVO
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The UPI reports, “Geely Automobile Holdings in China has agreed to a acting accord to acquirement Volvo Cars from Ford Motor Co.” The address cites a adventure in the Chinese-language China Daily newspaper. Volvo backer Maria Bohlin told reporters, “Ford is in allegation of the sale. We don’t apperceive annihilation here..
Motor Trend adds, “The address says that Geely will advance US$10 billion in architecture the Volvo cast both in China and abroad. The aboriginal archetypal to be congenital beneath Geely’s watch will reportedly be the new 2011 XC90.” That car ability become the aboriginal Chinese-built car to hit the U.S. market. “Volvo will reportedly move a assembly band to the Chinese city-limits of Dongguan in the Guangdong Province.”
Jalopnik, however, doubts the reports, acquainted that all account of the auction so far has been based on letters in the Chinese media, with no acceptance from Ford. “We’re awful agnostic but maybe they apperceive something we don’t.”
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